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tempo_n_groove said:
The reason it will shut down is from the overall cost it takes to get the oil. Read an interesting article on the shale deposits.mrussel1 said:
The fracking will be shut down in the US.tempo_n_groove said:FYI Light sweet Crude is hovering at just over $30 a barrel.
Crazy... Down 25%.
If you have money invested in that I would pull out. Not looking so good.here in ohio I am seeing more drilling equipment leaving the state than coming in now..... and have been for a year or so.the wells are active._____________________________________SIGNATURE________________________________________________
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unless you are thinking of retiring in the next few years you shouldn't worry about it. it will come back. I had lost something like 60% in the year or so after 9/11 if I recall correctly. it came back huge in the last Obama years and has been steady under fuck face. I'm probably a decade away from retiring so i try not to worry about it. check my statement each quarter and put it to the back of my mind.CM189191 said:this morning ought to be fun
how much more will my 401k lose?
I'm more concerned how the virus is going to affect businesses and jobs. any kind of city shutdowns in the country will have seriously effects on middle and lower class workers paychecks and jobs. the unknown in that is a bit scary right now.0 -
You say boo w anything attached to Trump or you make it seem that way so I take what you say w a grain of salt.Halifax2TheMax said:
Markets like stability and the world used to look to the United States for steady, effective leadership during times of crisis. Team Trump Treason is trying to BS his way through this and that should be obvious to anyone paying attention. I absolutely blame Team Trump Treason as he dismantled and defunded the apparatus initiated by Obama, because it was an Obama era program, and an Obama era program only, that was created for a situation just like this. Really, don’t blame Team Trump Treason? For fucks sake.tempo_n_groove said:
Blame the corona virus for the start of this not Trump.Halifax2TheMax said:Down 1,885 prior to halting trading. Thanks very stable genius. Scowling and stalking around and trying to BS your way through this is not a good look.
His smugness of us being ok about it makes him sound like a used car dealer though.I did say that Trump is BSing so I will agree w that.The fed dropping the interest rate was trying to avoid what is going on now but it didn’t help.0 -
Right now we have a supply side problem. Dropping the interest rates don't do much to restart Chinese factories or get the international shipping going. Eventually it will turn into demand side, after jobs have been lost and discretionary spending goes down. But for now, stimulus and interest rates will do little.tempo_n_groove said:
You say boo w anything attached to Trump or you make it seem that way so I take what you say w a grain of salt.Halifax2TheMax said:
Markets like stability and the world used to look to the United States for steady, effective leadership during times of crisis. Team Trump Treason is trying to BS his way through this and that should be obvious to anyone paying attention. I absolutely blame Team Trump Treason as he dismantled and defunded the apparatus initiated by Obama, because it was an Obama era program, and an Obama era program only, that was created for a situation just like this. Really, don’t blame Team Trump Treason? For fucks sake.tempo_n_groove said:
Blame the corona virus for the start of this not Trump.Halifax2TheMax said:Down 1,885 prior to halting trading. Thanks very stable genius. Scowling and stalking around and trying to BS your way through this is not a good look.
His smugness of us being ok about it makes him sound like a used car dealer though.I did say that Trump is BSing so I will agree w that.The fed dropping the interest rate was trying to avoid what is going on now but it didn’t help.0 -
I agree but I understand why they did it. Might have been too soon though.mrussel1 said:
Right now we have a supply side problem. Dropping the interest rates don't do much to restart Chinese factories or get the international shipping going. Eventually it will turn into demand side, after jobs have been lost and discretionary spending goes down. But for now, stimulus and interest rates will do little.tempo_n_groove said:
You say boo w anything attached to Trump or you make it seem that way so I take what you say w a grain of salt.Halifax2TheMax said:
Markets like stability and the world used to look to the United States for steady, effective leadership during times of crisis. Team Trump Treason is trying to BS his way through this and that should be obvious to anyone paying attention. I absolutely blame Team Trump Treason as he dismantled and defunded the apparatus initiated by Obama, because it was an Obama era program, and an Obama era program only, that was created for a situation just like this. Really, don’t blame Team Trump Treason? For fucks sake.tempo_n_groove said:
Blame the corona virus for the start of this not Trump.Halifax2TheMax said:Down 1,885 prior to halting trading. Thanks very stable genius. Scowling and stalking around and trying to BS your way through this is not a good look.
His smugness of us being ok about it makes him sound like a used car dealer though.I did say that Trump is BSing so I will agree w that.The fed dropping the interest rate was trying to avoid what is going on now but it didn’t help.
I seriously can't ee the interest rates ever being high again to tell you the truth.
Since we had this huge upswing the interest rates were raised once? I may be wrong about that but don't recall it.0 -
And what was the previous rate cut for, about a month ago? Or the one before that? Did the greatest economy of all time need more grease? And about those tax cuts? Those were needed too because well, unemployment was at what 4.0-4.5%? Do you disagree that markets like stability?tempo_n_groove said:
You say boo w anything attached to Trump or you make it seem that way so I take what you say w a grain of salt.Halifax2TheMax said:
Markets like stability and the world used to look to the United States for steady, effective leadership during times of crisis. Team Trump Treason is trying to BS his way through this and that should be obvious to anyone paying attention. I absolutely blame Team Trump Treason as he dismantled and defunded the apparatus initiated by Obama, because it was an Obama era program, and an Obama era program only, that was created for a situation just like this. Really, don’t blame Team Trump Treason? For fucks sake.tempo_n_groove said:
Blame the corona virus for the start of this not Trump.Halifax2TheMax said:Down 1,885 prior to halting trading. Thanks very stable genius. Scowling and stalking around and trying to BS your way through this is not a good look.
His smugness of us being ok about it makes him sound like a used car dealer though.I did say that Trump is BSing so I will agree w that.The fed dropping the interest rate was trying to avoid what is going on now but it didn’t help.09/15/1998 & 09/16/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/27/2008, Hartford; 06/28/08, 06/30/08, Mansfield; 08/18/2009, O2, London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL; 07/01/2018, Prague, Czech Republic; 07/03/2018, Krakow, Poland; 07/05/2018, Berlin, Germany; 09/02/2018 & 09/04/2018, Boston, MA; 09/08/2022, Toronto, Ont; 09/11/2022, New York, NY; 09/14/2022, Camden, NJ; 09/02/2023, St. Paul, MN; 05/04/2024 & 05/06/2024, Vancouver, BC; 05/10/2024, Portland, OR;
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Brilliantati©0 -
The fed raised rates in 16, 17, and 18. And they should. You only have a few levers in a recession and when you misuse them during a bull run, you hamper yourself down the road. The rate cuts at the end of last year I felt were foolish and political.Halifax2TheMax said:
And what was the previous rate cut for, about a month ago? Or the one before that? Did the greatest economy of all time need more grease? And about those tax cuts? Those were needed too because well, unemployment was at what 4.0-4.5%? Do you disagree that markets like stability?tempo_n_groove said:
You say boo w anything attached to Trump or you make it seem that way so I take what you say w a grain of salt.Halifax2TheMax said:
Markets like stability and the world used to look to the United States for steady, effective leadership during times of crisis. Team Trump Treason is trying to BS his way through this and that should be obvious to anyone paying attention. I absolutely blame Team Trump Treason as he dismantled and defunded the apparatus initiated by Obama, because it was an Obama era program, and an Obama era program only, that was created for a situation just like this. Really, don’t blame Team Trump Treason? For fucks sake.tempo_n_groove said:
Blame the corona virus for the start of this not Trump.Halifax2TheMax said:Down 1,885 prior to halting trading. Thanks very stable genius. Scowling and stalking around and trying to BS your way through this is not a good look.
His smugness of us being ok about it makes him sound like a used car dealer though.I did say that Trump is BSing so I will agree w that.The fed dropping the interest rate was trying to avoid what is going on now but it didn’t help.0 -
Thanks Obama, why you make stock market so high that it can fall so far.0
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It was raised 3 times? OK, ty.mrussel1 said:
The fed raised rates in 16, 17, and 18. And they should. You only have a few levers in a recession and when you misuse them during a bull run, you hamper yourself down the road. The rate cuts at the end of last year I felt were foolish and political.Halifax2TheMax said:
And what was the previous rate cut for, about a month ago? Or the one before that? Did the greatest economy of all time need more grease? And about those tax cuts? Those were needed too because well, unemployment was at what 4.0-4.5%? Do you disagree that markets like stability?tempo_n_groove said:
You say boo w anything attached to Trump or you make it seem that way so I take what you say w a grain of salt.Halifax2TheMax said:
Markets like stability and the world used to look to the United States for steady, effective leadership during times of crisis. Team Trump Treason is trying to BS his way through this and that should be obvious to anyone paying attention. I absolutely blame Team Trump Treason as he dismantled and defunded the apparatus initiated by Obama, because it was an Obama era program, and an Obama era program only, that was created for a situation just like this. Really, don’t blame Team Trump Treason? For fucks sake.tempo_n_groove said:
Blame the corona virus for the start of this not Trump.Halifax2TheMax said:Down 1,885 prior to halting trading. Thanks very stable genius. Scowling and stalking around and trying to BS your way through this is not a good look.
His smugness of us being ok about it makes him sound like a used car dealer though.I did say that Trump is BSing so I will agree w that.The fed dropping the interest rate was trying to avoid what is going on now but it didn’t help.
I agree with both of you about the last round of tax cuts. It clearly was to help the rich get richer and the economy did not need that but wit doing so well hardly anyone yelled boo.Halifax2TheMax said:
And what was the previous rate cut for, about a month ago? Or the one before that? Did the greatest economy of all time need more grease? And about those tax cuts? Those were needed too because well, unemployment was at what 4.0-4.5%? Do you disagree that markets like stability?tempo_n_groove said:
You say boo w anything attached to Trump or you make it seem that way so I take what you say w a grain of salt.Halifax2TheMax said:
Markets like stability and the world used to look to the United States for steady, effective leadership during times of crisis. Team Trump Treason is trying to BS his way through this and that should be obvious to anyone paying attention. I absolutely blame Team Trump Treason as he dismantled and defunded the apparatus initiated by Obama, because it was an Obama era program, and an Obama era program only, that was created for a situation just like this. Really, don’t blame Team Trump Treason? For fucks sake.tempo_n_groove said:
Blame the corona virus for the start of this not Trump.Halifax2TheMax said:Down 1,885 prior to halting trading. Thanks very stable genius. Scowling and stalking around and trying to BS your way through this is not a good look.
His smugness of us being ok about it makes him sound like a used car dealer though.I did say that Trump is BSing so I will agree w that.The fed dropping the interest rate was trying to avoid what is going on now but it didn’t help.0 -
No, I think it was raised more than once in some of those years. I don't know how to find that data precisely, but they were definitely raised in those calendar years. Here's a chart of the fed funds overnight rate. Interesting to see the late 70's and trying to manage the inflation, which turned into staflation. https://www.macrotrends.net/2015/fed-funds-rate-historical-charttempo_n_groove said:
It was raised 3 times? OK, ty.mrussel1 said:
The fed raised rates in 16, 17, and 18. And they should. You only have a few levers in a recession and when you misuse them during a bull run, you hamper yourself down the road. The rate cuts at the end of last year I felt were foolish and political.Halifax2TheMax said:
And what was the previous rate cut for, about a month ago? Or the one before that? Did the greatest economy of all time need more grease? And about those tax cuts? Those were needed too because well, unemployment was at what 4.0-4.5%? Do you disagree that markets like stability?tempo_n_groove said:
You say boo w anything attached to Trump or you make it seem that way so I take what you say w a grain of salt.Halifax2TheMax said:
Markets like stability and the world used to look to the United States for steady, effective leadership during times of crisis. Team Trump Treason is trying to BS his way through this and that should be obvious to anyone paying attention. I absolutely blame Team Trump Treason as he dismantled and defunded the apparatus initiated by Obama, because it was an Obama era program, and an Obama era program only, that was created for a situation just like this. Really, don’t blame Team Trump Treason? For fucks sake.tempo_n_groove said:
Blame the corona virus for the start of this not Trump.Halifax2TheMax said:Down 1,885 prior to halting trading. Thanks very stable genius. Scowling and stalking around and trying to BS your way through this is not a good look.
His smugness of us being ok about it makes him sound like a used car dealer though.I did say that Trump is BSing so I will agree w that.The fed dropping the interest rate was trying to avoid what is going on now but it didn’t help.
I agree with both of you about the last round of tax cuts. It clearly was to help the rich get richer and the economy did not need that but wit doing so well hardly anyone yelled boo.Halifax2TheMax said:
And what was the previous rate cut for, about a month ago? Or the one before that? Did the greatest economy of all time need more grease? And about those tax cuts? Those were needed too because well, unemployment was at what 4.0-4.5%? Do you disagree that markets like stability?tempo_n_groove said:
You say boo w anything attached to Trump or you make it seem that way so I take what you say w a grain of salt.Halifax2TheMax said:
Markets like stability and the world used to look to the United States for steady, effective leadership during times of crisis. Team Trump Treason is trying to BS his way through this and that should be obvious to anyone paying attention. I absolutely blame Team Trump Treason as he dismantled and defunded the apparatus initiated by Obama, because it was an Obama era program, and an Obama era program only, that was created for a situation just like this. Really, don’t blame Team Trump Treason? For fucks sake.tempo_n_groove said:
Blame the corona virus for the start of this not Trump.Halifax2TheMax said:Down 1,885 prior to halting trading. Thanks very stable genius. Scowling and stalking around and trying to BS your way through this is not a good look.
His smugness of us being ok about it makes him sound like a used car dealer though.I did say that Trump is BSing so I will agree w that.The fed dropping the interest rate was trying to avoid what is going on now but it didn’t help.0 -
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"It's a sad and beautiful world"-Roberto Benigni0
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Saudi's dropping oil prices. The Saudi's again... shocking... But it's the Saudi's, We'll ignore it.. we always do...
Want to see the American Empire fall? Let the Russians and The Saudi's replace the dollar as the oil currency.Post edited by myoung321 on"The heart and mind are the true lens of the camera." - Yusuf Karsh
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I'm pretty sure the Russians would like our oil output and prices to suffer too.myoung321 said:Saudi's dropping oil prices. The Saudi's again... shocking... But it's the Saudi's, We'll ignore it.. we always do...
Want to see the American Empire fall? Let the Russians and The Saudi's replace the dollar as the oil currency.
Since we are producing oil OPEC and others don't have that much weight to throw around.0 -
OPEC could crush our entire shale industry in a week if they decided to do so. It's not optimal for them from a revenue standpoint, but they could do it.tempo_n_groove said:
I'm pretty sure the Russians would like our oil output and prices to suffer too.myoung321 said:Saudi's dropping oil prices. The Saudi's again... shocking... But it's the Saudi's, We'll ignore it.. we always do...
Want to see the American Empire fall? Let the Russians and The Saudi's replace the dollar as the oil currency.
Since we are producing oil OPEC and others don't have that much weight to throw around.0 -
That is why I said Russia would like that. Russia has been known to want to get the dollar of oil trading and to see our economy and oil producing fail.mrussel1 said:
OPEC could crush our entire shale industry in a week if they decided to do so. It's not optimal for them from a revenue standpoint, but they could do it.tempo_n_groove said:
I'm pretty sure the Russians would like our oil output and prices to suffer too.myoung321 said:Saudi's dropping oil prices. The Saudi's again... shocking... But it's the Saudi's, We'll ignore it.. we always do...
Want to see the American Empire fall? Let the Russians and The Saudi's replace the dollar as the oil currency.
Since we are producing oil OPEC and others don't have that much weight to throw around.
OPEC was used to running things but a lot has changed in the last 10 years.0 -
Peter Tertzakian: This crude war is about a lot more than oil prices and market share
For oil companies that didn’t take precautions after the last price war, this one is likely to be deadly
The coronavirus preys on the old and frail. Price wars kill off the weak too, in a corporate sense.
Both scourges are ravaging the global oil and gas business, with little visibility on how or when things will be resolved. Market death. That’s what happens to weak companies that succumb to low product prices.
The Russians know this, which is why they pulled the “plus” out of the OPEC+ last week. By breaking rank from the price-protecting cartel, they signalled intent to take down their nemesis: the American oil and gas industry. I can envisage Vladimir Putin opening his desk drawer and pulling out his specially embossed copy of Sun Tzu’s The Art of War.
To Russia, this price war is more than just about regaining market share for oil; it’s about assaulting the Western economy, especially America’s
The Saudis, reportedly angered by the Russian move, pulled their own quotation out of Tzu’s battle notes: “In the midst of chaos, there is also opportunity.” So now, instead of offering any production cuts, two of the three largest oil-producing countries are flooding the market. Already, a barrel of oil is selling for less than a bottle of black-market hand sanitizer.
https://business.financialpost.com/commodities/energy/peter-tertzakian-this-crude-war-is-about-a-lot-more-than-oil-prices-and-market-share
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I’ve stopped looking at mine ..CM189191 said:this morning ought to be fun
how much more will my 401k lose?jesus greets me looks just like me ....0 -
People totally disregard that fact! Baffoon administration totally gutted the program put in place by Obama when the Ebola outbreak hitHalifax2TheMax said:
Markets like stability and the world used to look to the United States for steady, effective leadership during times of crisis. Team Trump Treason is trying to BS his way through this and that should be obvious to anyone paying attention. I absolutely blame Team Trump Treason as he dismantled and defunded the apparatus initiated by Obama, because it was an Obama era program, and an Obama era program only, that was created for a situation just like this. Really, don’t blame Team Trump Treason? For fucks sake.tempo_n_groove said:
Blame the corona virus for the start of this not Trump.Halifax2TheMax said:Down 1,885 prior to halting trading. Thanks very stable genius. Scowling and stalking around and trying to BS your way through this is not a good look.
His smugness of us being ok about it makes him sound like a used car dealer though.jesus greets me looks just like me ....0
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